Get ready for the fallout of euro breakup November 23, 2011 EVEN a matter of weeks ago, trying to get institutions to talk about back tested strategies for Eurozone breakup was like trying to get blood out of a stone. But now we have started to see this change. First came a report from Nomura, looking at the practical fall out of a collapse of the [...]
Get ready for the fallout of euro breakup November 23, 2011 EVEN a matter of weeks ago, trying to get institutions to talk about back tested strategies for Eurozone breakup was like trying to get blood out of a stone. But now we have started to see this change. First came a report from Nomura, looking at the practical fall out of a collapse of the [...]
Calls for foreign cash transparency September 19, 2011 More US companies are being asked to reveal how much cash they hold overseas by the Securities and Exchange Commission (SEC). Income earned abroad is taxed at rates of up to 35 per cent when it is brought back into the US, prompting many firms to leave it sitting in foreign accounts. Companies are not [...]
Calls for foreign cash transparency September 19, 2011 More US companies are being asked to reveal how much cash they hold overseas by the Securities and Exchange Commission (SEC). Income earned abroad is taxed at rates of up to 35 per cent when it is brought back into the US, prompting many firms to leave it sitting in foreign accounts. Companies are not [...]
Funding pressure as China pulls out of Eurozone forex September 20, 2011 MONEY market strains worsened yesterday after Standard & Poor’s cut Italy’s credit rating and the Bank of China halted foreign exchange swaps with several European banks. Eurozone bank borrowing at the European Central Bank’s weekly tender surged to €201bn, the highest in seven months in a sign of growing stress in the sector. Three-month dollar [...]
Thomas Cook: The company taking visitors to the Olympics since 1896 January 17, 2012 COUNTDOWN TO THE LONDON 2012 OLYMPIC GAMES Q. WHAT WAS YOUR BRAND’S PRIMARY REASON FOR BEING INVOLVED WITH THE GAMES? A. Thomas Cook actually took customers from Britain to the first modern Olympics in Athens in 1896, and passengers from all over the UK to the 1908 and 1948 London Olympics, so we’ve got a [...]
Retreating to the safety of the krone October 13, 2011 SINCE the Swiss National Bank’s (SNB) decision to de-facto peg the Swiss franc to the euro on 6 September, investors have been scrambling for alternative safe havens in order to allocate part of their liquid cash position. Gold’s violent drop in value during the second half of September has made this quest for safety even [...]
Japan struggles to get a grip on its currency November 15, 2011 THE Japanese central bank, the Bank of Japan (BoJ), has been locked in a seemingly futile battle to weaken its currency, the yen. A strong yen is seen as damaging to Japanese exporters by reducing their competitiveness overseas and eroding the value of repatriated earnings. But despite its past failures, it is likely that the [...]
ALL BETS ARE OFF FOR DEL BONO’S CASINO PLOT December 6, 2011 IT WAS like the Marie Celeste when Luca Del Bono first looked round 50 St James’s: the tables in the restaurant were still laid for dinner and the staff uniforms were still hanging on their hooks in the hall. That’s what happens when you abandon ship so abruptly – as the site’s previous owner, the [...]
Swiss central bank moves to weaken franc September 6, 2011 The Swiss National Bank has surprised foreign exchange markets by setting a minimum exchange rate target of 1.2 francs to the euro, saying it would enforce it by buying foreign currency in unlimited quantities. The move immediately knocked around eight per cent off the value of the franc, which has soared as investors used it [...]